India is set to revive its effort to lure prospective chipmakers into the country as projects already disclosed, including billionaire Anil Agarwal’s $19 billion plan, are taking time to get off the ground. New Delhi plans to reopen the application process for $10 billion in incentives and assistance intended to encourage local chipmaking, people familiar … Read more
Investors can’t stop piling up cash, with assets in money market funds ballooning to a record $5.3 trillion. The surge in cash comes amid a combo of high interest rates and depressed investor sentiment towards the stock market. But that massive pile of cash could be the fuel needed to drive the next bull market … Read more
Experts say there is a method to Elon’s madness on pricing changes. The latest price hikes could mean Tesla is done lathering on the discounts for now. Tesla has more flexibility to change prices in real time than its competitors. Elon Musk is changing his mind about Tesla pricing – again. Tesla shoppers, investors, and … Read more
Apple outshines all of Berkshire Hathaway’s businesses, Warren Buffett says. The Berkshire CEO emphasized the immense value Apple’s customers place on their devices. Buffett touted the fact that Berkshire’s Apple stake grows as the tech titan buys back stock. Apple outclasses every single one of Berkshire Hathaway‘s subsidiaries, Warren Buffett says. “It just happens to … Read more
The Fed will finally cut interest rates in the fall, former PIMCO economist Paul McCulley predicted. That’s because banking turmoil will put credit in a “tight vise,” slowing the economy, he warned. Economists have flagged the risk of recession over the past year as the Fed aggressively hiked rates. Despite what Jerome Powell and the … Read more
Russia and India have suspended negotiations over using rupees for trade, Reuters reported. Moscow, with a high trade gap in its favor, believes accumulating rupee is “not desirable.” China prefers to be paid in Chinese yuan or other currencies. Russia and India have suspended negotiations over using rupees for trade between the two countries, with … Read more
The Supreme Court on Wednesday allowed the Serious Fraud Investigation Office (SFIO) to resume criminal proceedings against former auditors of IL&FS Financial Services – BSR & Associates LLC and Deloitte Haskins and Sells LLP – for their role in the alleged financial irregularities at the beleaguered firm. It also directed the National Company Law Tribunal … Read more
Americans are getting more divided on electric vehicles. While EVs gain market share, more and more people say don’t want one as their next car. Factors repelling buyers from EVs include long charging times, lack of charging stations, and high pricing. Battery-powered cars seem like the next big thing, but a growing portion of Americans … Read more
Pakistan took the crown for Asia’s fastest inflation from Sri Lanka as a weaker currency and rising food and energy costs drove price gains to a record in April. Consumer prices rose 36.4% in April from a year earlier, the highest since 1964, according to data released by the statistics department Tuesday. That compares with … Read more